Exxon, China ink $41 billion Australian gas deal

Tuesday, August 18, 2009, 13:38

US major ExxonMobil Corp has inked a deal to sell liquefied natural gas (LNG) from its share of gas from the Gorgon LNG project to PetroChina in a deal worth about A$50 billion ($41.3 billion), the Australian government said.

PetroChina will buy 2.25 million tons per annum (mtpa) of gas from the Gorgon LNG project for a period of 20 years, Australia's Minister of Resources and Energy Martin Ferguson said in a statement.

The sale is Australia's most valuable trade deal ever with China, Australia said, adding that the agreement was a reflection of the strength of Australia's continuing trade and investment relationship with China. (Reuters)

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